Here’s why you might consider it if you’re looking for the best secured credit card: ¹ What are the pros and cons?Ĭhime’s Credit Builder helps to make building credit as easy as possible. Chime reports that activity to the major credit bureaus, helping you to build a positive credit history over time. The money you moved to your Credit Builder secured account can automatically pay your monthly balance when you turn on the Safer Credit Building feature ¹. Buy gas, go out to dinner with friends, pick up groceries – all the things you normally spend money on day to day. Once you’ve moved money over, you can use your Credit Builder card to make purchases anywhere Visa ® is accepted. This is the amount you’ll be able to spend with your card. ![]() ⁴ Next, you move money from your Chime Checking Account to your Credit Builder secured account. So how does Chime Credit Builder work ? It’s pretty simple.įirst you need a Chime Checking Account and a $200 qualifying direct deposit to apply. That’s a big difference compared to other secured credit cards on the market, which may have double-digit APRs and high annual fees.
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